Despite their vast infrastructure and customer data, telecom companies face major hurdles that threaten their profitability and growth prospects. However, leveraging standardized OSS/BSS (Operations Support Systems/Business Support Systems) solutions, especially those aligned with TM Forum standards, can provide a pathway to overcoming these obstacles.
Key ideas
· Standardized OSS/BSS solutions streamline service management and enhance customer experiences, facilitating the deployment of 5G and IoT solutions for new revenue streams.
· Modular, standardized systems improve digital interactions and customer satisfaction by simplifying self-service.
One of the foremost challenges for telecom companies is the content and application battle with Over-The-Top (OTT) players. OTT services like Netflix and WhatsApp have reshaped consumer expectations, leading to flat-lined or shrinking revenues for traditional telecom companies. To counter this, telecom companies must redefine their value propositions.
Standardized OSS/BSS solutions can provide a unified platform to streamline service management and create integrated offerings. For instance, by adopting TMForum’s Frameworx standards, telecom companies can build robust partnerships with content providers and enhance their service bundles. This not only enriches their offerings but also provides a more seamless customer experience.
For example, integrating OTT content into a telco’s package through standardized APIs ensures that customers can access content across multiple devices and platforms without friction.
The rollout of 5G infrastructure has been a significant investment for telecom companies but monetizing this investment through Internet of Things (IoT) solutions remains uncertain. Many telecom companies are still exploring viable revenue streams beyond traditional connectivity.
Once again, standardization can be a game-changer in this domain. By leveraging TM Forum standards, telecom companies can streamline the deployment and management of all kinds of solutions, making it easier to offer innovative services and create new revenue streams. For instance, standardized frameworks and architectures like the ODA allow telecom companies to rapidly develop and deploy applications for all sorts of services and even IoT products like smart cities, industrial automation, and connected vehicles. This not only provides new revenue opportunities but also positions telecom companies as key players in the evolving IoT ecosystem.
Despite significant investments in digital channels, many telecom companies see limited returns, with digital sales and services often falling short of expectations. The root of this issue lies in outdated monolithic systems and complex processes that hinder seamless digital interactions.
Adopting modular solutions can address these challenges by providing a modern, unified architecture that simplifies digital interactions and avoids vendor lock-in. These modern architectures enable telecom companies to design more intuitive digital interfaces and streamline customer journeys for a better customer experience.
For example, a standardized approach to digital self-service portals allows customers to manage their accounts, troubleshoot issues, and make purchases more efficiently. This reduces reliance on physical stores and call centers, improving overall customer satisfaction.
The telecom sector is heavily regulated, and keeping up with evolving cybersecurity and government policies can be daunting. Regulatory compliance and data protection are critical, yet complex and costly to manage.
TM Forum standards can help in creating systems that are adaptable to regulatory changes and ensure data protection. For instance, standardized compliance modules can be integrated into OSS/BSS platforms to automate reporting and ensure adherence to regulations. Additionally, a unified security framework helps in protecting sensitive customer data from breaches and cyber-attacks, thereby maintaining trust and avoiding regulatory penalties.
Despite the headwinds, telecom companies have inherent strengths, including significant physical assets and extensive customer data. By embracing OSS/BSS standardization, telecom companies can turn these strengths into competitive advantages. Standardization provides a foundation for building scalable, flexible systems that can adapt to changing market conditions and customer expectations.
Implementing modular and flexible architectures enable telecom companies to consolidate data from various sources, reducing redundancy and improving data accuracy. This consolidated view facilitates better decision-making and more personalized customer experiences. Moreover, standardized systems are designed to be both flexible and user-friendly, catering to both tech-savvy and non-tech-savvy users.
In conclusion, while the telecom industry faces important challenges, standardization offers a strategic and future-proof solution. By investing in TMF-compliant architectures, telecom companies can overcome these challenges, unlock new revenue streams, enhance digital channels, and navigate regulatory complexities with greater ease. This approach not only fosters growth but also ensures a superior user experience, positioning telecom companies for long-term success in a rapidly evolving market.
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